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enherent Corp. Announces Significant Rebound In First Quarter Financial Results


For Immediate Release

 

Roseland, New Jersey (May 10, 2007) - enherent Corp (OTC BB: ENHT, www.enherentCorp.com), an information technology services provider, today announced its results for the first quarter of 2007. The Company's financial results represented an increase in revenues and a substantial improvement in net income over the results of the prior year.

 

Revenues for the first quarter ended March 31, 2007 were $7.5 million, compared to revenues of $7.1 million in the quarter ended March 31, 2006. The 7% increase resulted from an increase in service revenues from certain key customers as a result of new IT project initiatives.

 

In addition, net income improved more than $567,000 for the quarter to approximately $50,000, or $0.00 per diluted share, as compared to a net loss of approximately $(517,000) or $(0.01) per diluted share, for the comparable quarter of 2006. The significant improvement in net income resulted primarily from an increase in gross profit from the Company's service revenue and lower expenses during the quarter from the continuing improvement in operating efficiencies.

 

Pamela Fredette, Chairman, CEO and President, commenting on the financial results for the first quarter of 2007, said "We are pleased with the continued turnaround in operating results for the quarter versus the same period last year. We experienced revenue growth and achieved a substantial improvement in our net income in what is usually a seasonally slow quarter. The Company continues its positive financial trend as we reached profitability for the fourth consecutive quarter and the sixth time over the last seven quarterly reporting periods. Our focus continues to be on organic growth, exploring new lines of business and making strategic acquisitions as we seek to improve shareholder value."

 

 

About enherent

enherent Corp. (OTCBB:ENHT) is an information technology professional services firm providing its clients with (a) consultative and technology staffing resources; and (b) teams of technical consultants trained in the delivery of solutions related to systems integration, network and security, and application services. enherent also provides solutions outsourcing involving software development. enherent customers can be found in many different industry segments, from the Fortune 500 to middle-market enterprises. The company, headquartered in New Jersey, operates throughout the northeastern United States and has sales locations in Connecticut, New York City, Long Island, N.Y. For more information visit www.enherentcorp.com.

 

 

Forward-Looking and Cautionary Statements

Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on certain assumptions and analyses made by the Company derived from its experience and perceptions. Actual results and developments may vary materially from those described because they are subject to a number of known and unknown risks and uncertainties. Such risks and uncertainties include, but are not limited to, future demand for the Company's services; general economic, market and business conditions; the Company’s ability to increase the amount of services rendered to existing clients and develop new clients and reduce costs of providing services; the Company’s ability to recruit and retain IT professionals; and various other factors discussed in the Company's filings with the Securities and Exchange Commission including those set forth under Item 1A of the Company's  recent Form 10-K. The Company disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments, or otherwise.

 

Contact Information:

Lori Stanley

enherent Corp.

lstanley@enherentcorp.com

(973) 795-1290

 

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